Principal Prepayment in Full definition

Principal Prepayment in Full. Any Principal Prepayment made by a Mortgagor of the entire principal balance of a Mortgage Loan.

Principal Prepayment in Full. Any Principal Prepayment of the entire principal balance of a Mortgage Loan that is made by the Mortgagor. Program Guide: Collectively, the Client Guide and the Servicer Guide for Residential Funding's Expanded Criteria Mortgage Program.

Principal Prepayment in Full means any Principal Prepayment of the entire principal balance of a Contract.

Examples of Principal Prepayment in Full in a sentence

• Other than with respect to any Mortgage Loan that was subject to a Principal Prepayment in Full occurring after the Cut-off Date but prior to the Closing Date, the Mortgage has not been satisfied, cancelled, subordinated or rescinded, in whole or in part, and the Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release, cancellation, subordination or rescission.

• Other than with respect to any Mortgage Loan that was subject to a Principal Prepayment in Full occurring after the Cut-off Date but prior to the Securitization Closing Date, the Mortgage has not been satisfied, cancelled, subordinated or rescinded, in whole or in part, and the Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release, cancellation, subordination or rescission.

• If a Principal Prepayment by a Mortgagor during the Buydown Period, together with any Buydown Funds in the related Buydown Account, will result in a Principal Prepayment in Full, the Master Servicer will withdraw from the related Buydown Account for deposit in the Collection Account the Buydown Funds, which together with such Principal Prepayment, will result in a Principal Prepayment in Full.

• Outstanding Loan ---------------- As of any Due Date, a Loan with a Stated Principal Balance greater than zero, which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Loan prior to such Due Date.

• If a Principal Prepayment by a Mortgagor during the Buydown Period, together with any Buydown Funds in the related Buydown Account, will result in a Principal Prepayment in full, the Master Servicer will withdraw from the related Buydown Account for deposit in the Collection Account the Buydown Funds, which together with such Principal Prepayment, will result in a Principal Prepayment in Full.

More Definitions of Principal Prepayment in Full

Principal Prepayment in Full. Any Principal Prepayment specified in clause (ii) of the definition of the term "Principal Prepayment."

Principal Prepayment in Full. Any payment or other recovery of principal on a Mortgage Loan equal to the outstanding principal balance thereof, received in advance of the final scheduled Due Date which is not intended as an advance payment of a scheduled Monthly Payment.

Principal Prepayment in Full. Any Principal Prepayment specified in clause ---------------------------- (ii) of the definition of the term "Principal Prepayment."

Principal Prepayment in Full means any Principal Prepayment of the entire ---------------------------- principal balance of a Loan.

Principal Prepayment in Full means any Principal Prepayment made by a Mortgagor of the entire principal balance of a Mortgage Loan.

Principal Prepayment in Full. Any Principal Prepayment of the entire principal balance of the Mortgage Loans. Proceeding: Any suit in equity, action at law or other judicial or administrative proceeding.

Principal Prepayment in Full. Any payment received on a Qualified Loan that is in excess of the installment of principal and interest due thereon in an amount sufficient to pay the entire principal balance of such Qualified Loan.